![]() You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. $300,000 for married couples filing jointly.In addition, your modified adjusted gross income (AGI) may not exceed: Buy it for your own use, not for resale.The credit is available to individuals and their businesses. The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032. You may qualify for a credit up to $7,500 under Internal Revenue Code Section 30D if you buy a new, qualified plug-in EV or fuel cell electric vehicle (FCV). If you place in service a new plug-in electric vehicle (EV) or fuel cell vehicle (FCV) in 2023 or after, you may qualify for a clean vehicle tax credit.įind information on credits for used clean vehicles, qualified commercial clean vehicles, and new plug-in EVs purchased before 2023. Find details in Q6 under Topic A in the Fact Sheet PDF. This applies even if you bought the vehicle before April 18. These figures may not reflect real-life driving results, which will depend upon a number of factors including the starting charge of the battery, accessories fitted (post-registration), variations in weather, driving styles and vehicle load.If you take possession of a new clean vehicle on or after April 18, 2023, it must meet critical mineral and battery component requirements to qualify for the credit. Only compare fuel consumption, CO2 and electric range figures with other cars tested to the same technical procedures. The figures shown are for comparability purposes. The electric range shown was achieved using the new (WLTP) test procedure. ![]() There is a new test for fuel consumption, CO2 emissions and electric range figures. A plug-in hybrid vehicle requires mains electricity for charging. The Equivalent All-Electric Range (EAER) for Plug-in Hybrid Electric Vehicles (PHEVs) were obtained using a combination of battery power and fuel. An Electric Vehicle (EV) requires mains electricity for charging. The All-Electric Range (AER) for Electric Vehicles (EVs) were obtained after the battery had been fully charged. Errors and Omissions Excepted.įuel Economy, CO2 Emissions and Electric Range Calls are recorded for training and monitoring purposes. Please check this independently to satisfy yourself before placing an order. Images of vehicles, (model and derivative), accessories and/or paint and interior colours are for illustration purposes only and may not be exact. We are not a funder or lender.įinance is subject to status. Fleet Electric are proud to be a member of the British Vehicle Rental and Leasing Association (BVRLA) No 10189. We will receive commission and/or other benefits from the finance provider if you enter into an agreement with them. You can check this information at are an independent vehicle finance broker and we operate with a panel of carefully selected funders. Our Data Protection Registration number is ZA789539. You can check this information at or by contacting the FCA direct on 03. Hanborough Enterprises Limited’s Firm Reference Number is 631448. We are an Appointed Representative of Hanborough Enterprises Limited who is authorised and regulated for consumer credit activities and insurance distribution by the Financial Conduct Authority. We are a Franchisee of the Bridle Group which is a trading division of Hanborough Enterprises Ltd to whom we introduce our business under our Franchise Agreement. Applicable to cars that produce more than 50 g/km of CO2įor contracts entered in to from April 2021įleet Electric Leasing Limited trading as Fleet Electric is a company registered in England no 12885666 whose registered office and trading address is at Unit Q1 Quadrant Distribution Centre, Quadrant Way, Hardwicke, Gloucester, GL2 2RN. Special Rate Pool: 6% of the value of the asset can be written down each year.Applicable to cars that produce 1 - 50 g/km of CO2 Main Pool Allowance: 18% of the value of the asset can be written down each year.Applicable to electric cars and electric charging points. First Year Allowance (FYA): 100% of the value of the asset can be written down in year 1.With company cars, there are special rules dictating the amount of capital allowance that can be offset against profits each tax year. Instead, tax relief is calculated for qualifying capital expenditure by way of capital allowances, which effectively spreads the amount of tax relief that can be claimed over a number of years as opposed to the depreciation for accounting purposes, which is generally not deductible for tax purposes. When a company purchases a fixed asset, such as tools, machinery or a car, it is not usually possible to deduct the entire expenditure on the asset from the profits straightaway on the basis that it represents capital expenditure.
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